679.704 Security interest unperfected before effective date. - Florida Statutes

679.704 Security interest unperfected before effective date.

A security interest that is enforceable immediately before this act takes effect but that would be subordinate to the rights of a person who becomes a lien creditor at that time:

   (1) Remains an enforceable security interest for 1 year after this act takes effect;

   (2) Remains enforceable thereafter if the security interest becomes enforceable under former s. 679.203 when this act takes effect or within 1 year thereafter; and

   (3) Becomes perfected:

   (a) Without further action when this act takes effect if the applicable requirements for perfection under this act are satisfied before or at that time; or

   (b) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.

History. s. 8, ch. 2001-198; s. 102, ch. 2003-1.